2007-12-13 18:41:46 · 10 answers · asked by Anonymous in Travel ➔ Asia Pacific ➔ Philippines
Shall I tell my mom to close her dollar account =)
Yeah, pain in my pocket, keeping that in mind...
2007-12-14 16:28:06 · answer #1 · answered by battgirl 7 · 1⤊ 1⤋
That may be great for Americans. For a change the Philippines may be able to buy American made products and help the American economy. In the past we have been purchasing goods from the Philippines, but with the exchange rate like it is the Philippine exports are no longer as attractive and perhaps American exports will become more attractive.
If the dollar is weak maybe Americans will begin to purchase more American made products. Maybe WalMart will begin to seek out American Manufacturers to fill their shelves.
The one person that answered it is great must not be keeping up with what is happening as a results of the American dollar being weak. They should go to Cebu and talk to all the people that have lost their jobs in the furniture industry and the owners of those companies that are facing closing their companies. You cannot sell things to the U.S.A. when your currency is so strong.
Some mentioned the OFW's paid in dollars and trying to send money home to their families. They are hurting and will hurt even more. It is estimated that over 2 millions Filipinos live in the U.S.A. as O.F.W.'s and U.S. citizens and send money to the Philippines monthly. Ask them if they think the weak dollar is good for them and their families.
Stop and ask yourself how much more Philippine goods have you been able to purchase on your outings to the mall and grocery stores. How has it helped you pay for gasoline and cooking fuel. Has the strong peso made your utility bills any easier to pay. I doubt it. The only one benifiting from the weak dollar and strong peso is the Philippine government. It helps them pay off their loans made in dollars faster.
Some people take delight in the U.S. dollar being weak. They enjoy the thought that the U.S. may be suffering. The weak dollar could help the U.S. Americans are use to their economy going down the year before a Presidential election. Everyone is waiting to see who the next President will be and what approach they will take towards taxes, economy and trade. The problems with the economy is not a shock to Americans at this time.
Americans are not happy with the problems in the Housing Industry and the loans that the taxpayers may have to bail out, but we did it in the 80's and survived and we will survive again.
2007-12-14 00:34:35 · answer #2 · answered by tom1941 4 · 1⤊ 0⤋
When the peso reaches 30 , who will invest ? It will make Philippine products much more expensive on the world market , putting many out of work . Also it will not make anything bought locally any less expensive except imported goods . How will that help the Philippines ?
2007-12-13 20:22:40 · answer #3 · answered by Anonymous · 5⤊ 0⤋
I only wish you were wrong. I was speaking with an associate at work today, and it's become obvious that the value of our dollar is dropping like a rock. Hopefully the U.S. government will do something about it soon. A lot of it has to do with the fact that China basically has us in their pocket. We owe them all kinds of money, yet 3% of their economy depends on what the Chinese export to Wal-Mart (a HUGE corporate chain of department stores here) alone.
2007-12-13 20:50:33 · answer #4 · answered by That Guy Drew 6 · 0⤊ 0⤋
Yup i have some USD Dollars
Bad News for our OFW who's really Working Hard to earn a living
Good News for people who love to travel at least your travel will be cheaper
2007-12-14 21:04:58 · answer #5 · answered by midwaypalace 3 · 0⤊ 0⤋
I hope not. It'll great if we'll be able to feel the effects of that trend, but its been several months since the peso has "strenghtened" but no effects are felt by the masa.
2007-12-13 19:52:59 · answer #6 · answered by richie 7 · 0⤊ 0⤋
if it's true, then it will be a bad news for OFWs and to those who have dollar accounts! I really just wish that it will not reach that low.. i pity those who are working so hard overseas..
2007-12-13 23:36:42 · answer #7 · answered by camed 3 · 2⤊ 0⤋
Do you claim to be psyhic ? If so , and the dollar goes to 30 , how will you celebrate ? How will it make your life better
2007-12-13 18:51:05 · answer #8 · answered by Anonymous · 3⤊ 0⤋
that would make us the best currency in the world. (we are already the best performing currency in Asia).
being on the top of the list would be so attractive to investors. and perhaps our economy would grow.
2007-12-13 19:35:20 · answer #9 · answered by hamster-de-combat 2 · 0⤊ 6⤋
That's great!
2007-12-13 22:35:59 · answer #10 · answered by ? 5 · 0⤊ 3⤋